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Nigeria intends to divide its state-run company, the Nigerian National Oil Co., into 30 independent units to enhance efficiency following the decline in oil prices. The move is part of President Muhammadu Buhari's efforts to address decades of mismanagement and corruption within the oil sector. The restructuring aims to improve operations and transparency, transforming the powerful oil bureaucracy into independently managed entities with chief executive officers responsible for their respective units.
Friday, 4 March, 2016